Stripe Quietly Building ‘Tempo’ Blockchain With Paradigm’s Backing: Report
Main Idea
Stripe is reportedly developing a payments-focused blockchain called 'Tempo' with backing from Paradigm, as part of its broader strategy to expand into crypto-related services.
Key Points
1. Stripe is working on a high-performance, payments-driven blockchain named 'Tempo' in collaboration with Paradigm, according to a job listing and insider sources.
2. The project is currently under development with a small team and is built from scratch, compatible with Ethereum’s coding language.
3. Stripe has been acquiring crypto-related firms, including a $1.1 billion purchase of crypto wallet firm Bridge, and has hinted at plans for a stablecoin product.
4. The development aligns with a trend of major crypto players like Binance, Coinbase, and Kraken launching their own blockchain solutions.
5. No official launch date for Tempo has been announced, but industry speculation suggests a potential debut in late 2025 or early 2026.
Description
A newly published report says fintech heavyweight Stripe is quietly crafting a payments-driven blockchain dubbed “Tempo” in collaboration with cryptocurrency venture capital firm Paradigm, according to a job listing and people with knowledge of the project. Sources: Stripe Is Developing a Blockchain Forbes reported that the Aug. 3 posting, shared through the Blockchain Association, described
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